Tejas Networks IPO to open on June 14 to 16 price band of Rs 250-257

Leading telecom equipment maker Tejas Networks Ltd on Wednesday 7th June 2017 said it will launch its initial public offering (IPO) on 14 June an initial public offering of equity shares of face value of Rs 10 each for cash comprising of a fresh issue of equity shares aggregating up to Rs 4,500 million and an offer for sale of up to 12,711,605 equity shares by Selling Shareholders. The company has fixed a price band of Rs250-257 per share for the IPO. The offering will close on 16 June. Bids can be made for a minimum of 55 Equity Shares and in multiples of 55 equity shares thereafter.

Investors selling shares in the IPO include Cascade Capital Management Mauritius, India Industrial Growth Fund (Frontline Strategy), Intel Capital and Sandstone Capital. Other investors in the company include the likes of Goldman Sachs, Mayfield and Samena Capital.

About Tejas Networks Ltd
Tejas is an optical and data networking products company with customers in over 60 countries. It designs, develops and sells high-performance and cost-competitive products to telecommunications service providers, internet service providers, utility companies, defence companies and government entities.

Its products find application in building high-speed communication networks that carry voice, data and video traffic from fixed line, mobile and broadband networks over optical fibre.

As of 30 April, Tejas Networks has filed 333 patent applications, with 203 filings in India, 89 filings in the US and 6 filings in Europe, out of which 56 patents have been granted.

The company follows an asset-light strategy by outsourcing most of its manufacturing to reputed electronics manufacturing services companies. The strategy allows it to scale up production without requiring a corresponding increase in capital expenditure towards building its own manufacturing operations.

For the financial year 2016-17, Tejas Networks reported a revenue of Rs865.3 crore, up from Rs625.5 crore in the previous financial year. It reported a profit of Rs53.2 crore in 2016-17, compared to a profit of Rs27.4 crore the previous year.

POPULAR CATEGORY

Disclaimer
This Blog owner & creator is not a research analyst and expressing opinion only as an Investor in Indian equities with his experience.He is not responsible for any loss arising out of any information, post or opinion appearing on this blog. Investors are advised to consult financial consultant before acting on any such information.